Thai Financial Reporting Standard for Small and Medium-sized Entities (TFRS for SMEs)

Thai Financial Reporting Standard for Small and Medium-sized Entities (TFRS for SMEs)

            The Adoption of International Financial Reporting Standard for Small and Medium-sized Entities Working Group (IFRS for SMEs), under Thai Accounting Standards – Setting Committee is in the process for preparing the standard (TFRS for SMEs) according to International Financial Reporting Standards for Small and Medium-sized Entities (IFRS for SMEs) incorporates 2015 Amendment. 

Announcement!

Thai Financial Reporting Standards for Small and Medium-sized Entities (TFRS for SMEs) and all relevant accounting guidances of this standard have been withdrawn by FAP to reconsider.

           

            On 5 July 2017, at the FAP Board Meeting no. 2/2560-2563 (2/2560) have the resolution to withdraw the Thai Financial Reporting Standard for Small and Medium-sized Entities (TFRS for SMEs) and all relevant accounting guidances of this standard which were already presented at the Oversight Committee Meeting no. 46 (4/2559) and no. 47 (1/2560) to reconsider and revise the principle and scope in the standard following to Thailand environment. So, FAP would like to announce to all relevant stakeholders.

            Remark: FAP is in the process for reconsideration of this standard by the committee. You can study the content, scope and principle in the standard and all relevant accounting guidances of this standard.

No. Ref. Standard title Issue date Process Effective date Date in the Royal Gazette
1 TFRS for SMEs Draft Thai Financial Reporting Standard for Small and Medium-sized Entities (TFRS for SMEs) 1 Aug 2016 and 26 Apr 2017 In the process of reconsideration by the committee In the process of reconsideration by the committee
2 Guidance-NPAEs Draft Accounting Guidance for the recognition of Borrowing cost and Development cost for NPAEs 1 Aug 2016 In the process of reconsideration by the committee In the process of reconsideration by the committee
3 Guidance – IP for NPAEs Draft Accounting Guidance for subsequent measurement and disclosure of Investment property for NPAEs 25 Apr 2017 In the process of reconsideration by the committee In the process of reconsideration by the committee

Articles/ News/ Others about TFRS for SMEs

Date Articles/ News/ Seminar documentation/ Others
20/06/2560 Article: “Solve the problem? TFRS for SMEs section 28 Employee benefits (Part 2)” Download
01/02/2560 Delay and Exemption for adoption of Draft Thai Financial Reporting Standard for Small and Medium-sized Entities (TFRS for SMEs) (Update on 26 May 2017) Download
27/12/2559 Article: Solve the problem? TFRS for SMEs section 28 Employee benefits Download
14/06/2559 Article: “TFRS for SMEs for NPAEs (complex structure): the important issue in this new standard” (Update 30 May 2017) Download
02/02/2559 Article: “NPAEs Real Estate” Download
03/09/2558 Article: “Thai Finanical Reporting Standard for Non-Publicly Accountable Entities (TFRS for NPAEs) to international accounting standard improvement” Download
Post Date :
6 Nov 2017 14:54:59
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